Wall Street Closes Higher as Semiconductor Stocks Drive Market Gains

NEW YORK — Wall Street ended Thursday on a positive note, led by strong gains in semiconductor stocks after Micron Technology announced a major expansion of its U.S. manufacturing investment.

The Nasdaq Composite climbed 1.3% to 26,206 points, while the S&P 500 gained 0.81% to 7,543. The Dow Jones Industrial Average rose 0.27%, closing at 52,487.

Micron shares jumped 4.5% after the company unveiled plans to invest an additional $3 billion in U.S. memory chip manufacturing. The company also increased its long-term investment commitment to more than $250 billion through 2035, accelerating factory construction and semiconductor production.

The rally spread across the technology sector, with Arm Holdings surging 9%, SanDisk gaining 7.6%, and the VanEck Semiconductor ETF rising 2.5%.

Markets also monitored geopolitical developments after the U.S. military confirmed it had carried out a new round of strikes targeting Iranian military infrastructure aimed at reducing threats to commercial shipping in the Strait of Hormuz.

Despite renewed tensions, West Texas Intermediate (WTI) crude fell 1.96% to $72.08 per barrel, suggesting investors remained focused on broader market fundamentals.